I haven’t heard of the word chili used as a slang.
There are two words that sound like chili that are popular slang words.
The word "chillin" means relaxing and doing nothing special.
Example: I'm chilin at home right now.
The word "chill" has many meanings. This includes to calm down, to hang out, and to be easy going.
Example: He needs to chill or he'll be kicked out of the library.
I hope this helps!